2025_12_11 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID: DDD996A4-9AEB-4186-AE75-797CE2829130 • Proposed Property Record Card Motion of the Board Accept Count 's Proposed Value: $385,200 Made the motion Richal Vanhook Seconded the motion Saru Salvi Voted For All BOER Members Voted Against ... Property Identification: Property Owner Keyway LLC Appellant(if different) Property Address 215 Legends Way I Parcel ID or Abstract 19870023515 Statement of Appeal: Request reduction in value based on perceived market value, disputed valuation process, and market fluctuations. Current Assessed Value $359,300 ounty Opinion $359,300 Time of Hearin 9:15AM Appellant Opinion $337,300 County Representative Scott Zeman Board Decision $359,300 Evidence submitted by the appellant: • Following my appeal regarding the increased appraised value of this property, I received notice on 8/26/2025 that the property was reassessed at$359,300. While this represents a modest reduction compared to the first reassessment, I still believe that the current assessment is well beyond the market value of the property. The reappraised value represents the peak market value achieved in 2025. The current market value according to Zillow and Trulia is estimated at$337,300. The estimated market value in January 2025 was $347,700. • As stated before,using neighborhood assessed values and sale prices is flawed as almost all homes in this neighborhood are single family homes whereas this property is a townhome. The property that is cited as a comparable property is a townhome,but quite different from ours (2300 sqft, 3bds, 3ba, sold in May 2024 for$512,00 -versus our property: 1334 sqft, 2bds, 2.5 ba, with a May 2024 market value of$363,700). • Given market fluctuations and the downturn in the housing market,it is unfair to use the peak value of the property in 2025. In addition,previous reassessments resulted in a 9.8%increase in 2021 and a 2.9%increase in 2016. The current suggested assessed value would increase the value by 62.9%. As the housing market is unlikely to recover in the near future,I respectfully request a much greater reduction in the appraisal that is, at most, in line with the current value ($337,300). This still would result in a substantial financial burden, as it is based on an unrealized gains. Evidence submitted by the county representative: • The subject property is a 1,320-square-foot townhouse in Lake Hogan Farms. The property was reviewed by Tanner Valuation Group. • Appraiser observations and recommendations: 1. GRADE: The residence has a grade of B-10. The grade is consistent with the other townhouses in this section.No change to grade is recommended.